VES Insights | April 2025
- Karen Andrews
- 2 days ago
- 2 min read
VES Insights, your go-to newsletter for the latest in bookkeeping, automation, AI, Xero tips, and essential ATO updates to keep you informed and on track. From simplifying your bookkeeping to harnessing the power of automation and AI, our newsletter is packed with valuable tools and reminders to help you stay ahead.
$20,000 Instant Asset Write-Off is Extended!
Good news for small businesses — the Government has extended the $20,000 Instant Asset Write-Off to 30 June 2026. If your business turns over less than $10 million annually, you can claim an immediate deduction on eligible assets under $20,000 (ex. GST) that are installed and ready for use within the timeframe.
Changes Are Coming to PAYG Withholding in 2025
From 1 July 2025, the ATO will update how frequently businesses report and pay PAYG withholding tax. If your business has grown and you're now withholding more tax than in previous years, you may be moved from quarterly to monthly reporting. This change will be based on your total PAYG withholding for the 2023–24 financial year, and the ATO will notify affected businesses by June 2025.
Small Business Restructuring and Personal Exposure: What You Need to Know
If your business is struggling with tax debts, cash flow gaps, or growing creditor pressure, you’re not alone and there are steps you can take.
The Small Business Restructuring (SBR) process offers eligible businesses a chance to reduce legacy debts while continuing to operate. But directors need to be aware of personal risks, like Director Penalty Notices and personal guarantees.
Disclaimer: This newsletter is intended to provide general guidance and is not specific advice. We encourage you to seek tailored advice for your circumstances.
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